As a researcher with experience in the finance industry and a strong interest in cryptocurrencies, I find Anthony Scaramucci’s views on Bitcoin compelling. His belief that institutional adoption of Bitcoin is happening now and that pension funds are starting to invest in it is supported by recent news and trends. The approval of Bitcoin by regulatory bodies and large-scale financial institutions is a significant development that could lead to more widespread adoption.
I, as an analyst, would like to share some insights on Bitcoin following Anthony Scaramucci’s appearance on CNBC’s Squawk Box program. Scaramucci, the founder and managing partner of SkyBridge Capital and a known Bitcoin advocate, discussed the latest developments surrounding the world’s leading cryptocurrency and the emerging trend of U.S. pension funds considering investments in it.
“It pays to be early in Bitcoin,” Scaramucci
Scaramucci expressed his conviction that institutional investment in Bitcoin is currently increasing, with more pension funds likely to follow suit in the footsteps of the Wisconsin pension fund, which recently allocated around $100 million towards Bitcoin.
As a crypto investor, I’m thrilled to share that Bitcoin has received the long-awaited regulatory approval. This pivotal development opens up a world of opportunities for large-financial institutions, enabling them to confidently establish a presence in the Bitcoin market.
Scaramucci anticipates that in the not too distant future, Bitcoin will become a crucial component in the strategic portfolio of institutional investors.
“Diving into Bitcoin’s homework brings you closer to this digital currency. Occasionally, you might encounter setbacks when jumping in early, but I strongly believe that being an early adopter of Bitcoin is advantageous. And let me remind you, we are still at the beginning stages of Bitcoin’s journey.”
— Squawk Box (@SquawkCNBC) May 16, 2024
The expert advises that delving into the intricacies of Bitcoin is crucial, which involves more than just perusing the whitepaper. Instead, one should explore the background of money and its functions. According to Scaramucci, embarking on this educational journey will lead you towards Bitcoin.
In general, he holds the view that investing in Bitcoin early on can be rewarding, as he put it, “we’re not there yet…at times being an early adopter comes with its share of challenges.”
Bitcoin ETFs add almost $256 million in BTC
A recent analysis by Lookonchain revealed that Bitcoin exchange-traded funds experienced a substantial influx of over $255.94 million, or approximately 3,893 BTC, on May 16. This amount was distributed among nine different ETFs.
The largest Bitcoin investment fund managed by Grayscale, which currently holds approximately 288,500 Bitcoins valued at around $18.86 billion, experienced withdrawals of about 839 Bitcoins, equivalent to roughly $55,200.
The Fidelity ETF has recently acquired approximately 1,989 Bitcoins, valued at over $130.79 million. With this latest deposit, the total Bitcoin holdings of the fund now stand at around 155,745 BTC, equivalent to a market value of roughly $10.24 billion.
As a crypto investor, I’d like to share some updates on the latest Bitcoin holdings of various ETFs as of May 16:
— Lookonchain (@lookonchain) May 16, 2024
Over the past 24 hours, I’ve observed Bitcoin, the top cryptocurrency, making a modest gain of approximately 2%, pushing its price beyond the $66,000 mark to reach the current level of $66,340 per coin.
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2024-05-17 13:11